Circle Stock In Focus After ACI Worldwide Deal Brings USDC Settlement To Colombian Banks

• ACI Worldwide and Circle launched a pilot in Colombia to show how banks can add USDC settlement to their existing payment systems through ACI Connetic.
• According to Craig Ramsey, stablecoins are “moving from possibility to practicality.”
• ACI built the infrastructure behind Bre-B, Colombia's instant payments network, and the companies said stablecoins would complement it, not replace it.

Circle Internet Group (CRCL) shares edged lower in early-morning trade on Tuesday after ACI Worldwide (ACIW) said it was working with the stablecoin issuer on a pilot to bring USD Coin (USDC) settlement into the payment systems that Colombian banks already use.

The collaboration uses ACI Connetic, which is ACI's cloud-based payments platform, alongside Circle's USDC infrastructure. According to ACI, the aim was to show how banks can add stablecoin settlement to their current operations. 

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The work started in Colombia, where ACI built the central system behind Bre-B, the country's instant payments network. According to the American software company, stablecoins like USDC could complement that system rather than replace it.

"The conversation around stablecoins is moving from possibility to practicality," said Craig Ramsey, ACI's global head of account-to-account payments. Additionally, Kash Razzaghi, Circle's chief commercial officer, said, "Financial institutions across Latin America are increasingly looking at how stablecoins can support the evolution of payments and settlement within the infrastructure they already use."

USDC will not be the only option on the platform. ACI said Connetic also supports other payment networks and digital asset providers.

Circle stock fell more than 1% in early morning trading. On Stocktwits, retail sentiment around CRCL dropped to ‘neutral’ from the ‘bullish’ zone, while chatter stayed at ‘normal’ levels over the past day. 

Earnings Ahead

On Monday, Circle stock dipped over 7% after Mizuho cut its price target and warned that AI assistants could steer users away from USDC.

Circle is scheduled to report third-quarter results on November 4 before the market opens. Analysts expect revenue of $787.70 million, up from $701.32 million last quarter, according to Koyfin data. Adjusted earnings are estimated at $0.42 per share, up from $0.26 in the prior quarter.

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